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The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $93,894 as of 4:01 a.m. EST, with trading volume soaring 4% to $20.1 billion.
This pullback by the BTC price comes as Bitcoin investor and trader Coinvo suggests on X that if history repeats itself, tomorrow’s Fed FOMC meeting could push BTC to $134K.
We have FOMC on Wednesday, and if history repeats itself, it could send $BTC straight to $134,000! 🤯 pic.twitter.com/iRkQvJdSdi
— Coinvo (@ByCoinvo) May 5, 2025
Bitcoin Price Gearing Up For A Trend Continuation
The BTC price chart on the 3-day timeframe shows a strong bullish trend within a rising channel that has been respected since late 2023.
After reaching a peak above $106,000, the Bitcoin price action pulled back and found support near $80,000, forming a rounded bottom pattern indicative of accumulation and a potential continuation to the upside.
Most recently, the price of BTC has broken back above the key resistance-turned-support zone around $92,000, suggesting renewed bullish momentum.
Meanwhile, the 50 Simple Moving Average (SMA) is sloping upwards and currently sits just below BTC at $92,554, providing dynamic support. The 200 SMA is well below the current price of BTC at $65,811, confirming the long-term bullish structure.
Moreover, the Relative Strength Index (RSI) is currently at 57.22, rising from the neutral zone without showing signs of overbought conditions, which supports further upward movement.
Given the breakout from the accumulation range, the overall bullish channel, and supportive technical indicators, BTC appears poised to retest and potentially break previous highs.
A move toward the $110,000 resistance zone seems probable if bullish momentum persists, assuming macroeconomic conditions and broader crypto sentiment remain favorable.
However, a drop below the $92,000 level would warrant caution, as it could invalidate the immediate bullish setup, possibly pushing the price of Bitcoin to the $78,878 level within the rounded bottom pattern.
Meanwhile, crypto investors are turning to BTC Bull Token (BTCBULL), a promising Bitcoin-themed meme coin project offering free BTC.
YouTube channel 99Bitcoins, which boasts over 725K subscribers, predicts 10X gains for BTCBULL holders after the token launches.
BTC Bull Token Races Towards $6 Million
In one of the strongest presale showings of the year, new meme coin BTC Bull Token just rocketed past $5.36 million in its ongoing presale.
BTC Bull Token introduces a unique approach by rewarding holders with Bitcoin airdrops each time BTC reaches a significant price milestone for the first time.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way.
Investors who hold BTCBULL in Best Wallet will receive free BTC via airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
In addition to BTC airdrops, the team will carry out token burns as well, permanently removing a portion of the total supply. The aim is to follow Bitcoin’s footsteps and increase scarcity and value.
BTCBULL token holders can also earn passively by staking their tokens for a 77% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.0025 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in about 3 days to secure the best deal.
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